KANSAS CITY, MO – MetroAir Virtual Airlines’ parent company, Stratosphere Group Inc. reported today a full year 2014 net income of $336.4 million, and increase of 850 percent year over year. Total cash reserves and short-term investments increased from $1,447.7 million at year end 2013 to $1483.1 million at year end 2014. Operating revenue was over $11.4 billion, with 93 percent of revenue coming from passenger ticket sales at $10.77 billion. Operating margin for 2014 was 2.92%, and increase from the 0.38% operating margin from 2013.
Mainline and Allegius fuel expense increased $742 million to $3.18 billion in 2014, due to a 18% increase in consumption. The average mainline and Allegius price per gallon of fuel was $2.94 in 2014 as compared to an average price per gallon of $2.95 in 2013.
Total system capacity increased 14.5% as compared to 2013. The increase in capacity was driven by strong operating performance, as well as aggressive expansion, opening the Los Angeles Int’l hub, and fleet increase and upgrade program. MetroAir Virtual operated 1,594 flights per day at year end 2014, as compared to 1,404 at year end 2013. During 2014 MetroAir’s replaced 7 CRJ700 aircraft with 10 new Embraer ERJ170LR aircraft. In addition, a total of five Boeing 777-300ER aircraft, four Airbus A330-200 aircraft, 10 Airbus A319 aircraft, and five Airbus A320 aircraft were delivered to the airline.
“2014 was an excellent year for our airline, including fleet and roster growth, as well as a blossoming partnership with Fly UK Virtual Airways,” said Matt Calsada, MetroAir’s CEO, “We’re starting off 2015 as a bigger and better airline. I’m excited for what we will do this year to improve our operations, our product, and our customer service.”
The full financial details can be found at the link below.